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MarketScreener Homepage  >  Equities  >  Nyse MKT  >  Golden Minerals Co    AUMN

GOLDEN MINERALS CO

(AUMN)
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GOLDEN MINERALS CO : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)

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08/23/2019 | 04:08pm EST
Item 3.01             Notice of Delisting or Failure to Satisfy a Continued

Listing Rule or Standard; Transfer of Listing.

On August 19, 2019Golden Minerals Company (the "Company") received written notification (the "Notice") from the NYSE American LLC (the "NYSE American") that the Company is not in compliance with Section 1003(a)(iii) of the NYSE American Company Guide (the "Company Guide"). The Company is required to report a stockholders' equity of $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. The Notice noted that the Company reported a stockholders' equity of $4,380,000 as of June 30, 2019 and losses from continuing operations and/or net losses in each of its five most recent fiscal years ended December 31, 2018. As a result, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide and must submit a plan of compliance by September 18, 2019, addressing how the Company intends to regain compliance with Section 1003(a)(iii) of the Company Guide by February 19, 2021.

The Company intends to prepare and timely deliver a plan of compliance to the NYSE American. The Company has also been advised that it will be subject to delisting procedures if it does not regain compliance prior to February 19, 2021 or if the NYSE American determines that the Company is not making progress consistent with its plan of compliance.

The Notice has no immediate effect on the Company's common stock or its business operations. The Company's common stock will continue to be listed on the NYSE American under the symbol "AUMN" while it regains compliance with Section 1003(a)(iii) of the Company Guide, subject to the Company's compliance with other continued listing requirements.

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© Edgar Online, source Glimpses

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